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Hudson Pacific Properties, Inc.

HPP Real Estate Reit Office

Hudson Pacific Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $831.1 million, down 1.30% from fiscal 2024.

Revenue
−3.07%
EPS
−64.1%
Free cash flow
+817.3%
Total debt
−5.73%

Quarter to September 2026, against a year earlier

8.41 0.35 −4.00%
Market cap
$486.0M
P/E
0.0×
Fwd P/E
−2.8×
Dividend yield
0.00%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.43
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — 1 — — —
Sell — — — — — — — — — — — —
Insider Ownership 18.07%

Capital & Financial Ratios $m

Size
Market Cap 485.99
Revenue ttm 807.07
Net income ttm (657.97)
Free cash flow ttm 136.96
Net debt Q 3,209.03
Valuation
P/E 0.00
Forward P/E (2.76) (negative: loss-making)
Price / sales 0.67
Forward P/S Powerpack
Price / FCF 3.82
Price / book 0.23
Financial health
Current ratio Q 1.33
Debt / equity Q 1.23
Interest coverage Q (0.19)
Growth
Revenue growth Q −3.07% (below 0%: shrinking)
Operating income growth Q +69.03% (above 0%: growing)
EPS, this year +70.02% (at or above 15%: strong)
EPS, next year A +30.47% (at or above 15%: strong)
Revenue, next year A −10.58% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +39.33% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.6×, against a ten-year median of 8.2×; over the ten years it ranged from 4.3× in 2026 to 11.5× in 2017.
P/S against its own 10 years 10.85%
10-year low 10-year high
P/B against its own 10 years 15.98%
10-year low 10-year high
EV/Sales against its own 10 years 2.79%
10-year low 10-year high
EV/FCF against its own 10 years 47.62%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
—
Growth, 2017–25
−100.0%/yr
  1. 7.00 ’17
  2. 7.00 ’18 +0
  3. 7.00 ’19 +0
  4. 7.00 ’20 +0
  5. 7.00 ’21 +0
  6. 7.00 ’22 +0
  7. 2.63 ’23 −63
  8. 0.70 ’24 −73
  9. 0.00 ’25 −100
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 119 99 162 205
Receivables 245 214 210 219
Inventory — — — —
Other — — — —
365 313 372 424
2023 2024 2025 Q'26
Payables 204 194 209 320
ST’ Debt — — — —
Other — — — —
204 194 209 320

Compound Annual Growth %

10y 5y 3y
Sales 4.78% 0.64% (6.79%)
Cash Flow (3.67%) (16.72%) (31.08%)
Earnings 0.00% 0.00% 0.00%
Book Value (1.67%) (4.50%) (5.63%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.28 Actual 0.35

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.14 0.28 Beat by 0.14
Q4 FY25 0.20 0.21 Beat by 0.01
Q1 FY26 0.18 0.25 Beat by 0.07
Q2 FY26 0.28 0.35 Beat by 0.07
Q3 FY26 0.25 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.82) (1.62) (3.45) — —
’25 (3.71) (2.87) (2.10) (4.31) (12.81)
’24 (2.59) (2.31) (4.83) (8.26) (18.05)
’23 (0.98) (1.82) (1.89) (4.90) (9.52)
’22 (0.91) (0.35) (0.84) (0.63) (2.73)
’21 0.21 0.14 (0.42) 0.35 0.28
’20 0.49 0.14 (0.28) (0.35) 0.00
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 182 188 181 — —
’25 198 190 187 256 831
’24 214 218 200 210 842
’23 252 245 231 223 952
’22 245 251 260 270 1,026
’21 213 216 228 240 897
’20 206 199 196 204 805
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 44 (8) — — —
’25 31 (2) 33 59 121
’24 65 36 64 0 165
’23 93 59 71 9 232
’22 95 95 138 41 370
’21 115 58 113 29 315
’20 90 47 110 54 302
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 16 (43) 41 — —
’25 52 (21) (6) 166 191
’24 15 (13) 7 (46) (36)
’23 116 (21) 62 614 771
’22 39 (57) 110 21 114
’21 19 (37) 30 (161) (149)
’20 11 (43) (29) (633) (694)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 640 728 728 818 805 897 1,026 952 842 831 807 +3.0% 743 780 814 (0.7%)
Gross margin, % 64.24 65.18 63.25 63.15 62.76 62.55 59.68 52.70 46.08 48.53 49.68 (15.7) pt
EBT 44 95 112 56 16 29 (17) (164) (380) (593) (658) n/m
EBT margin, % 6.84 12.99 15.35 6.83 2.04 3.23 (1.61) (17.21) (45.10) (71.30) (81.51) (78.1) pt
Net income 44 95 112 56 16 29 (17) (171) (381) (592) (658) n/m
Per share, $
Per share, $ Revenue 42.15 33.03 32.79 36.92 36.79 41.39 49.96 47.29 41.75 18.60 12.51 (8.7%)
Earnings 1.82 3.08 4.41 1.96 0.00 0.28 (2.73) (9.52) (18.05) (12.81) (10.20) n/m
Cash flow 14.94 13.29 9.66 13.00 13.80 14.53 17.99 11.53 8.16 2.71 2.12 (17.3%)
Capex (34.04) (15.78) (11.68) (10.74) (45.53) (21.41) (12.45) 26.74 (9.97) 1.57 0.00 n/m
Free cash flow (19.10) (2.49) (2.02) 2.26 (31.72) (6.88) 5.54 38.28 (1.80) 4.28 2.12 n/m
Book value 244.01 177.40 172.43 167.37 181.34 193.71 182.57 173.53 154.62 70.53 42.94 (12.9%)
Shares, m 15 22 22 22 22 22 21 20 20 45 60 +12.7%
Valuation, ×
Valuation, × P/E 145.63 77.09 46.89 139.48 1,681,400.00 617.97 0.00 0.00 0.00 0.00 0.00 168,242.7
P/S 5.80 7.19 6.20 7.14 4.57 4.18 1.33 1.41 0.51 0.58 0.67 3.9
P/B 1.00 1.34 1.18 1.57 0.93 0.99 0.41 0.44 0.16 0.18 0.23 0.8
EV/Sales 9.50 10.37 9.99 10.76 8.85 8.34 5.58 5.49 5.43 4.50 4.65 7.9
EV/FCF (20.97) (137.40) (162.48) 175.74 (10.27) (50.20) 50.34 6.79 (125.58) 19.57 26.43 (25.4)
Cash, $m
Cash, $m Operating cash flow 227 293 215 288 302 315 370 232 165 121 137 (6.7%)
Capex (517) (348) (259) (238) (996) (464) (256) 538 (201) 70 5 n/m
Free cash flow (290) (55) (45) 50 (694) (149) 114 771 (36) 191 137 n/m
Balance, $m
Balance, $m Working capital 80 50 49 54 161 162 318 161 120 163 104 +8.3%
Net debt 2,365 2,320 2,760 2,961 3,448 3,731 4,366 3,892 4,144 3,255 3,209 +3.6%
Shareholders’ equity 3,703 3,911 3,830 3,709 3,968 4,197 3,750 3,494 3,119 3,152 2,769 (1.8%)
Returns, %
Returns, % ROA 0.42 1.02 1.43 0.59 0.00 0.07 (0.62) (2.18) (4.44) (7.43) (8.85) (7.8) pt
ROIC 0.92 1.37 1.41 1.52 1.08 1.15 1.23 0.25 (0.39) (0.43) 0.18 (1.3) pt
ROE 0.73 1.79 2.53 1.14 0.01 0.16 (1.59) (6.01) (12.64) (21.12) (24.42) (21.8) pt
People
People Employees 257 293 311 347 375 560 885 758 740 607 — +10.0%
Revenue/emp, $m 2.49 2.49 2.34 2.36 2.15 1.60 1.16 1.26 1.14 1.37 — (6.4%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

Hudson Pacific Properties, Inc. vs peers in Reit Office (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DEI Douglas Emmett, Inc. $1.8B — (loss-making) — (loss-making) +4.10% (above 0%: growing) n/m +41.06% (above 0%: growing) 61.41% 18.15% Compare
PDM Piedmont Realty Trust, Inc. $1.2B — (loss-making) — (loss-making) +8.68% (above 0%: growing) n/m −4,096.18% (below 0%: shrinking) 60.31% 14.53% Compare
DEA Easterly Government Properties, Inc. $1.1B 72.3× 78.4× +8.66% (above 0%: growing) +337.82% (above 0%: growing) −79.62% (below 0%: shrinking) 65.93% 25.59% Compare
PSTL Postal Realty Trust, Inc. $847.0M 34.6× 31.0× +24.47% (above 0%: growing) +77.00% (above 0%: growing) +36.44% (above 0%: growing) 79.22% 39.31% Compare
BDN Brandywine Realty Trust $540.7M — (loss-making) — (loss-making) +3.48% (above 0%: growing) n/m +526.19% (above 0%: growing) 58.53% 37.51% Compare
HPP Hudson Pacific Properties, Inc. $486.0M — (loss-making) — (loss-making) −3.07% (below 0%: shrinking) n/m +817.27% (above 0%: growing) 45.56% (4.30%)
OPI OFFIC PPTYS IT $283.0M — (loss-making) — +2.04% (above 0%: growing) n/m −358.26% (below 0%: shrinking) 84.14% (0.02%) Compare
ONL Orion Office REIT Inc. $134.1M — (loss-making) 119× −4.55% (below 0%: shrinking) n/m +0.08% (above 0%: growing) 59.69% 10.66% Compare
NLOP Net Lease Office Properties $133.6M 7.5× — −80.18% (below 0%: shrinking) n/m −98.66% (below 0%: shrinking) 80.28% (89.99%) Compare
Median of peers $693.8M 34.6× 78.4× +3.79% — −39.77% 63.67% 16.34%

All 19 Reit Office stocks →

Pay and ownership Proxy statement filed 23 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 2.77m (2.08m) 7.82
2024 24.80m 3.61m 15.31
2023 8.37m 9.13m 46.18
2022 6.79m (5.67m) 45.17
2021 10.55m 9.51m 15.31
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Hudson Pacific Properties, Inc. (HPP) Latest News

5 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby
Impact 3 · · The Real Deal
Impact 3 · · Business Wire

21 Oct

Impact 4 · · bisnow.com
Impact 3 · · The Real Deal

15 Oct

Impact 4 · · Business Wire

9 Oct

Impact 3 · · Business Wire

5 Oct

Impact 3 · · Business Wire

29 Sep

Impact 3 · · credaily.com
Impact 3 · · bisnow.com

25 Sep

Impact 4 ·

17 Sep

Impact 3 ·

12 Aug

Impact 4 · · The Motley Fool transcript

8 Aug

Impact 3 · · MarketBeat transcript

7 Aug

Impact 4 · · credaily.com

5 Aug

Impact 4 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·

30 Jun

Impact 3 ·

19 Jun

Impact 4 ·

11 Jun

Impact 4 ·

17 May

Impact 3 · · Simply Wall St.

10 May

Impact 4 · · MarketBeat

8 May

Impact 4 · · Zacks

7 May

Impact 4 · · Moby
Impact 3 · · Zacks
Impact 3 ·

28 Apr

Impact 3 · · LA Times
stockrow.com/HPP · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com